MinterEllison advises global mining giant Anglo American on an agreement to sell its Australian steelmaking coal portfolio to UK-registered peer Dhilmar for up to USD3.8 billion in cash.
The consideration comprises upfront proceeds of USD2.3 billion payable at completion, along with a price-linked earn-out of up to USD1.5 billion.
MinterEllison worked alongside Latham & Watkins on the transaction. Simon Scott, head of the energy and resources team, and partner Jordan Phillips led the MinterEllisons team, along with senior associate Josephine Vidler, associate Tia Shadford and lawyer Harvey Nihill. Tax partner Tim Lynch and associate Charlie Richardson also advised on the deal.
The transaction, which is expected to be completed in 2027, forms part of Anglo American’s broader steelmaking coal divestment strategy, on which MinterEllison continues to advise. This includes the sale of Anglo American’s 33.3% minority stake in Queensland-based coal company Jellinbah Group to Brisbane-headquartered private investment and asset management firm Zashvin for around USD1 billion in January 2025.
